Legal/Finance
Filing your tax return: online deadline looms
14th January 2010
Business advice from Griffins – Claire Avery answers your questions
I had intended to complete my self-assessment tax return over the Christmas holiday period to ensure that I filed it before the deadline of January 31 2010; but I have recently been told that I cannot send in the paper return; is this correct?
I am also not in a position to settle the full amount of tax I will owe by 31 January 2010; can you please advise what I can do in this respect?
In respect of filing the return; the deadline for filing paper returns passed on October 31 2009; so the return must be filed electronically by January 31 2010 to be on time and avoid a potential penalty being imposed.
To file the return electronically, you will need to register to do so with H M Revenue & Customs, if you have not already done so; and allow sufficient time for the activation code to be posted to you.
To register you will need to go to HMRC’s website: www.hmrc.gov.uk, and click on the left hand side where it says ‘do it online self-assessment’; and follow the registration process.
Once this is set up you can access HMRC’s software via its website and file the return electronically.
The alternative to this is to instruct an accountant to file the return electronically on your behalf. As a registered agent with HMRC they will already be set up to file clients’ returns electronically; so there should not be a delay in this respect, provided you can provide your self-assessment reference number.
Moving onto your tax payments; the balance of any tax due for 2008-09 will be payable by January 31 2010; together with the first payment on account for 2009-10, if applicable. If payments are not made by this date interest will accrue until the amounts are settled.
In addition, if the balance of tax for 2008-09 is not settled by February 28 2010; a five per cent surcharge will be imposed.
Due to the continued state of the economic climate; H M Revenue & Customs have a dedicated payment support service which can be utilised if you are going to have problems settling your tax liabilities.
This support line is for new enquiries only; for tax payments due now or in the near future; and can therefore be utilised for the amount becoming due on January 31 2010. It is advisable to contact HMRC as soon as possible to set up a payment plan if required.
The telephone number is: 0845 302 1435 and it is open Monday to Friday 8am to 8pm, and Saturday and Sunday 8am to 4pm. You will need your tax reference number to hand, along with details of the tax you are unable to pay and when you will be able to pay the tax.
If an arrangement is set up, late payment interest will continue to accrue; however surcharges will not be imposed.
For more information contact the Griffins tax team on (01635) 265265 or email Claire Avery tax manager on c.avery@griffins.co.uk.
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